Section 63 First-year allowances for expenditure wholly for a ring fence trade

United Kingdom

(1)

Schedule 21 to this Act shall have effect.

(2)

In that Schedule—

(a)

Part 1 makes provision for and in connection with first-year allowances under Part 2 of the Capital Allowances Act 2001 in respect of expenditure incurred by a company on the provision of plant or machinery for use wholly for the purposes of a ring fence trade chargeable to tax under F1section 330(1) of the Corporation Tax Act 2010; and

(b)

Part 2 makes provision for and in connection with first-year allowances under Part 5 of that Act (mineral extraction allowances) in respect of expenditure incurred by a company wholly for the purposes of such a trade.

(3)

The amendments made by that Schedule have effect in relation to expenditure incurred on or after 17th April 2002.

Annotations

Textual amendments

F1: Words in s. 63(2)(a) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 371 (with Sch. 2)